All Forum Posts by: Andrew Peterson

I am doing some research and my wife's grandmother lives in Cullman, AL. I am trying to find a local investor to have some conversations with about the Cullman and surrounding areas to learn and possibly try to partner up with to get into investing. A little about me: I'm active duty Marine Corps stationed in San Diego, I recently bought a condo and plan to stay here until I am eligible for retirement in 2027. After that my plan is to relocate and scale like a mad man and make buy & hold rental investments/property management my second career. Looking forward to linking up with some local talent and hopefully I find someone who is familiar with long distance investments that I can learn from.

Love the story, sent you a DM.

@Andrew Postell (I think I like your name a little better) appreciate the response and great detail you put into it.

I guess the reason I was looking into a way to get into a fixer upper using the VA wouldn't be to offset the down payment but to build the equity fast as the only downside (IMO) with a no money down VA Loan would be no immediate equity (at least with a down payment you would have your down payment worth of equity. Of course as I'm typing this I'm remembering what Brandon said about the criteria for a good deal (not paying more than 80% of current value) would get you immediate equity even with a no money down loan.

I will have to continue my research but you definitely have helped point me in the right direction and opened my eyes that because I'm not putting any money down I can focus on the real deal of paying only 80% of market value then use the money for forced appreciation even if it wont be as great I wont have to spend as much.

Once again appreciate your input and cant wait to keep the conversation going as I get further along in my research and learning.

Good Afternoon BP,

I am just getting into real estate investing and currently in my first year and have chosen to take this year as a education and research year. I'm current active duty and was curious if anyone had come across using the VA home loan for a home hack. The main question I have is for the qualifications does all properties (Duplex/Triplex/Quadplex) have to meet the VA qualifications or does the primary residence only have to meet the strict qualifications? I'm not looking for a full blown fixer upper; however, I am possibly looking for a decent *plex to home hack and break into the market by using the VA and want to find a good deal I can put some work into (possibly needing new flooring or other work) in order to get that immediate forced appreciation. Appreciate any insight and looking forward to this journey and eventually making and closing on my first property.

Andrew